Certain travel segments that soared during the post-Covid era are seeing more normalized growth. Short-term rentals (STRs), once the darlings on the accommodations market, are facing challenges such as tougher regulations, oversupply, and continued competition from hotels. Instead of hotels copying STRs, are STRs copying hotels? In the “Short-Term Rentals at a Crossroads?” panel, speakers spoke of branding, service, and standardization.
“Now hotels are starting to move towards a more contactless experience for their guests and on the other hand short-term rentals are … creating more hotel-like amenities and hotel-like experiences and professionalism and branding that they didn’t need in the past,” said Vered Raviv-Schwarz, President and COO of Guesty. Panelists spoke of the importance for STRs to provide a unique experience for the guest while also being safe and consistent. “How do you marry uniqueness with the hotel experience” Raviv-Schwarz wondered. As for guests, “You want something special, but you don’t want to have a surprise,” quipped Sylvia Epaillard, co-CEO and chief commercial and digital officer, Interhome.
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Hotels, meanwhile, have raised the bar by providing unique services and experiences catering to both business travelers and the complex preferences of leisure guests. “All of a sudden we are facing new leisure demand, looking for bigger spaces, not just connecting rooms but bigger villas… or bigger apartments, but with the level of service of a hotel,” explained Maud Bailly, CEO Sofitel Legend, Sofitel, MGallery, Emblems at Accor. Speaking on the “Beyond the Bed: An Experience You’ll Never Forget” panel, hoteliers explained how they are positioning themselves as much more than the room.
“We are in the happiness industry,” said Juan Carlos Sanjuan, Founder and President of Casual Hotels, adding there is a lot more to hospitality than making money. Unique experiences help support brand awareness at Strawberry, said Nils Korsvoll, VP Customer Journey and Product Development, Strawberry, whose multiple brands in the Nordics run the gamut from budget to luxury. Challenged with providing experiences for all chain scales, Strawberry has partnered with Live Nation in the Nordics for VIP passes, presale access, and other perks for both guests and locals in the community, “to make the brands stand out.” Considering both sides of the lodging market, there is no doubt that rentals and hotels are in a race to appeal to customers’ sentiments and desire to create lasting memories. “We are emotion makers,” explained Bailly.
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